Toyota Corolla SE 2020 Lease Offer, help please? (MF, Residual Value, and more)

partyhatpartyhat Member Posts: 31
edited October 2019 in Toyota
Hi , I am looking for money factor and residual percentage on a 2020 Toyota Corolla SE 36month/12,000 mile lease in New Jersey, my postal code is 07042


Additional Questions AND information regarding the offer

I spoke to a sales rep and was told the MF changes month to month, is that true? He gave me 0.00092 MF
I don't know the residual value.

He gave me a total cap cost of $21,187 BUT because i have 6 more remaining payments ($183/month) on my current Toyota lease, the total cap cost would have to be increased to $22,285 ($183 x 6 = $1,098 + $21,187)

Bank fees/motor vehicle fee, docu fees and tax totaled $2,400. That is a separate payment that id be okay to pay upfront unless anyone has info that it can be reduced.

I am also an upcoming graduate so I will be eligible for the $750 rebate but that wasn't introduced in our discussion. Is the rebate subtracted from the total cap cost? or can it be subtracted from the bank fees?

He originally gave me a monthly payment of $290/month but said he could bring it down to around $250 minimum - $260 range.

what do you guys think? Should I take an offer at the month end next month? OR wait until I reduce my monthly payments on my current lease to reduce the overall cap cost for my next lease.

Thank you for anyone that can help.

Comments

  • MichaellMichaell ColoradoModerator Posts: 209,852
    partyhat said:

    Hi , I am looking for money factor and residual percentage on a 2020 Toyota Corolla SE 36month/12,000 mile lease in New Jersey, my postal code is 07042


    Additional Questions AND information regarding the offer

    I spoke to a sales rep and was told the MF changes month to month, is that true? He gave me 0.00092 MF
    I don't know the residual value.

    He gave me a total cap cost of $21,187 BUT because i have 6 more remaining payments ($183/month) on my current Toyota lease, the total cap cost would have to be increased to $22,285 ($183 x 6 = $1,098 + $21,187)

    Bank fees/motor vehicle fee, docu fees and tax totaled $2,400. That is a separate payment that id be okay to pay upfront unless anyone has info that it can be reduced.

    I am also an upcoming graduate so I will be eligible for the $750 rebate but that wasn't introduced in our discussion. Is the rebate subtracted from the total cap cost? or can it be subtracted from the bank fees?

    He originally gave me a monthly payment of $290/month but said he could bring it down to around $250 minimum - $260 range.

    what do you guys think? Should I take an offer at the month end next month? OR wait until I reduce my monthly payments on my current lease to reduce the overall cap cost for my next lease.

    Thank you for anyone that can help.

    .00092 and 61%
    $600 lease cash

    These numbers are good through Monday; after that, they could very well change. But, we don't know if they will get better or worse.

    Why shop now when you have 6 months left on your current lease? It's not like the 2020 Corollas are going to be all gone in April or May of next year. That $1100 you are carrying over is about $30/mo extra on your payment - and you're getting nothing in return for it.

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  • partyhatpartyhat Member Posts: 31
    edited October 2019
    Thank you so much.

    and you're right but id figure id try and get out of my current lease to avoid the maintenance costs for the reminder of my lease.

    im at 27k miles and i need to change my tires.

    they also recommended me that i need to get a fuel injector system flush (which is ridiculous), front wheel alignment, clean my brakes because there is signs of rust.

    I plan on getting used tires that match my current tires (6-7 thread) just in time to return my lease to avoid buying new tires.

    where can i find monthly updates on the money factor?

    do you also know how document fees are at toyota new jersey?
  • kyfdxkyfdx Moderator Posts: 210,409
    partyhat said:

    Thank you so much.

    and you're right but id figure id try and get out of my current lease to avoid the maintenance costs for the reminder of my lease.

    im at 27k miles and i need to change my tires.

    they also recommended me that i need to get a fuel injector system flush (which is ridiculous), front wheel alignment, clean my brakes because there is signs of rust.

    I plan on getting used tires that match my current tires (6-7 thread) just in time to return my lease to avoid buying new tires.

    where can i find monthly updates on the money factor?

    do you also know how document fees are at toyota new jersey?

    You don't have to have "optional" service items completed, just because the dealer recommends it.

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    Did you get a good deal? Be sure to come back and share!

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  • partyhatpartyhat Member Posts: 31
    kyfdx said:

    partyhat said:

    Thank you so much.

    and you're right but id figure id try and get out of my current lease to avoid the maintenance costs for the reminder of my lease.

    im at 27k miles and i need to change my tires.

    they also recommended me that i need to get a fuel injector system flush (which is ridiculous), front wheel alignment, clean my brakes because there is signs of rust.

    I plan on getting used tires that match my current tires (6-7 thread) just in time to return my lease to avoid buying new tires.

    where can i find monthly updates on the money factor?

    do you also know how document fees are at toyota new jersey?

    You don't have to have "optional" service items completed, just because the dealer recommends it.
    Thank you kydx, i appreciate everyones help in this discussion. it has helped me alot. thank you
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